So, it seems CEO Jane Fraser recently spilled the beans during an analyst chit-chat following the bank’s latest earnings report, according to Reuters. Who doesn’t love a good briefing, right? Grab your popcorn! 🍿
Now, while the idea of tossing a “Citi stablecoin” into the fray is being bandied about like a game of hot potato, Fraser made it abundantly clear that the real priority here is crafting an intricate web of tokenized deposit infrastructure. That’s right, folks—before they jump into the coin-making business, they want to put their digital house in order. She even dropped hints about possible roles for Citigroup in managing stablecoin reserves. Somehow, this feels like planning a marriage while still figuring out where to put the couch.
But wait! There’s more! This announcement flops onto the scene as U.S. financial giants are sipping the stablecoin latte, foaming beautifully with adoption. Speaking of which, JPMorgan—who, not too long ago, scoffed at crypto like we do at pineapple on pizza—is now getting all cozy with its own blockchain asset amusingly dubbed “JPMD.” Meanwhile, DTCC is popping up with its own stablecoin idea. It’s a wild time to be alive, isn’t it? 🥳
On the flip side, this institutional momentum is paired with a changing regulatory climate that’s as unpredictable as a cat on a hot tin roof. Enter the GENIUS Act—yes, that’s the name they went with—which is a Senate-approved bill that President Trump has lent his support to. This little gem aims to sprinkle some legal clarity for our dear USD-pegged stablecoins. Now, it did stall in a House vote, akin to a snail marathon, but Trump seems to think it’ll eventually run the race after some exciting negotiations.
With regulatory winds swirling and rivals flinging bold moves like confetti at a New Year’s party, Citigroup is poised to make its mark in this fast-evolving carnival of digital dollars. Who’s bringing the cotton candy? 🎡
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2025-07-16 17:42